Trulia’s Price Monitor recorded 1.2% growth in the typical asking price of a house in Los Angeles County in June, compared with three months prior. In pricier Orange County, that asking price climbed just four-tenths of one percent, the smallest gain since prices started rising in Orange County in May 2012. By comparison, in the first half of 2013, prices were climbing roughly 6% a quarter.

Trulia's study focuses on asking prices - a forward-looking indicator - but its findings echo a slowdown in sale prices in recent months as well.

This shift in the market has come as sharp home price growth has bumped up against relatively flat incomes and still-tight lending standards. Southland markets routinely rank among the nation’s least affordable on measures of housing costs as a share of household income, and market-watchers here say they see many potential buyers priced out after last year’s big run-up.

Asking prices climbed faster in the less-expensive Inland Empire, up 2.4% in the last three months. But even there, the market is throttling down. The Inland Empire recorded 7%-per-quarter price growth last summer.

Trulia also reported that rents in Los Angeles County have climbed 6.1% in the last 12 months, with a typical two-bedroom apartment going for $2,350 a month. That’s 51% of the average local wage, the third highest rate in the country.

Keep an eye on housing and real estate in Southern California. Follow me at @bytimlogan